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Report Date : |
13.08.2013 |
IDENTIFICATION DETAILS
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Name : |
PACKIT
INDUSTRIAL PACKAGING (QLD) PTY LTD |
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Registered Office : |
Unit 11, |
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Country : |
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Date of Incorporation : |
28.01.2009 |
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Com. Reg. No.: |
135116399 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import and distribution of packaging products. |
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No. of Employees : |
15 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
The Australian economy has experienced continuous growth and
features low unemployment, contained inflation, very low public debt, and a
strong and stable financial system. By 2012, Australia had experienced more
than 20 years of continued economic growth, averaging 3.5% a year. Demand for
resources and energy from Asia and especially China has grown rapidly, creating
a channel for resources investments and growth in commodity exports. The high
Australian dollar has hurt the manufacturing sector, while the services sector
is the largest part of the Australian economy, accounting for about 70% of GDP
and 75% of jobs. Australia was comparatively unaffected by the global financial
crisis as the banking system has remained strong and inflation is under control.
Australia has benefited from a dramatic surge in its terms of trade in recent
years, stemming from rising global commodity prices. Australia is a significant
exporter of natural resources, energy, and food. Australia's abundant and
diverse natural resources attract high levels of foreign investment and include
extensive reserves of coal, iron, copper, gold, natural gas, uranium, and
renewable energy sources. A series of major investments, such as the US$40
billion Gorgon Liquid Natural Gas project, will significantly expand the
resources sector. Australia is an open market with minimal restrictions on
imports of goods and services. The process of opening up has increased
productivity, stimulated growth, and made the economy more flexible and
dynamic. Australia plays an active role in the World Trade Organization, APEC,
the G20, and other trade forums. Australia has bilateral free trade agreements
(FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has
a regional FTA with ASEAN and New Zealand, is negotiating agreements with
China, India, Indonesia, Japan, and the Republic of Korea, as well as with its
Pacific neighbors and the Gulf Cooperation Council countries, and is also
working on the Trans-Pacific Partnership Agreement with Brunei Darussalam,
Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and
Vietnam.
Source
: CIA
Verified Address
Subject name : PACKIT INDUSTRIAL PACKAGING (QLD)
PTY LTD
Business address :
289 Hamilton Road
Town : Chermside
Province : Queensland
Zip/postal code : 4032
Country : Australia
Tel : +61 7 31720787
Fax : +61 7 38614175
Email : cpeters@packit.net.au
Website : www.packit.net.au
Registered address
: Unit 11, 69 Orleigh Street
Town : West End
Province : Queensland
Zip/postal code : 4101
Country : Australia
Postal address : P.O. Box 5662
Town : West End
Province : Queensland
Zip/postal code : 4101
Country : Australia
Executive Summary
Date founded or
registered : 28/01/2009
Legal form : Australian
Proprietary Company
Chief executive : Christine Anne Peters
Issued & paid
up capital : AUD 5
Line of business :
Import and
distribution of packaging products.
Staff employed : 15 employees
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management
experience : Management is
modestly experienced
Financial
performance : Financial
performance is fair
Organization structure
: Organizational structure is
stable
Detrimental : No detrimental records found
Payment history : No payment dlays noted
Registry Data
Registration date
: 28/01/2009
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
135116399
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business Number:
24135116399
Registry status : Live/Active
Previous name : None reported.
Change of legal
form : None reported.
Key Management
Name : Christine Anne Peters
Designation : Managing Director
Appointments
Name : Christine Anne Peters
Designation : Director and Company Secretary
Appointment date :
28/01/09
Address : Unit 11, 69 Orleigh Street
West End, QLD 4101
Australia
Biography : Born on 08/03/1950 in
Boonah, Queensland, Australia.
Staff employed : 15 employees
Composition
Authorized Capital
: AUD 5
No of shares : 5 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 5
Paid up capital : AUD 5
How listed : Full List
Composition
Shareholder name :
Christine Anne Peters
Address : Unit
11, 69 Orleigh Street
West End, QLD 4101
Australia
No. of shares : 5 Ordinary Shares
% of shares : 100%
Structure
Related companies
and corporateaffiliations comments :
None reported.
Bank Details
Name of bank : Australia and New Zealand Banking
Group Limited
Address : Australia
Account details : Current Account
Comments : It is generally not the policy
of local banks to provide credit status information to
non related parties, however interested parties would be advised to
consult first
with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court judgements :
None reported.
Tax liens : None reported.
Others : None reported.
Description
Comments : The representative contacted Mr. Brett
Roland advised that the Subject’s
estimated annual turnover is between AUD 5 million to AUD 10 million.
The Subject is classified as a small proprietary company by the
Australian
Securities & Investments Commission hence is not required to
disclose their
financial statement.
A proprietary company is defined as small for a financial year if it
satisfies at least
two of the following:
- The consolidated revenue for the financial year of the company and any
entities
it controls is less than $25 million;
-The value of the consolidated gross assets at the end of the financial
year of the
company and any entities it controls is less than $12.5 million, and
-The company and any entities it controls have fewer than 50 employees
at the
end of the financial year.
Main activities : The Subject is engaged in wholesale
distribution of packaging products.
The Subject supplies its products to customers such as Unilever, Marks
&
Spencer, Sainsbury, Tesco, Kraft Food, Foster Clark to name a few.
Product &
services : Printed and plain rewind
Plastic bags
Pouch bags
Zippered bags
Retortable bags
Pails & Buckets
Ice cream containers
PET Bottles & Jars
Foam trays
Woven sacks
Specialty bags
Shrink wrap
Stretch wrap
Food wrap
IBCs
Crates & Pallets
Disposable aprons
Clinical waste bags
Biohazard bags
Packaging machinery
Purchases
International : Mainly from China, Malaysia,
Indonesia, India, South Korea
Sales
Local : Yes
International : New Zealand, Pacific Islands
Property & Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of a warehouse and an administrative office.
Branches : None reported.
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 46.714
billion
Gross domestic
product - GDP : US$ 1.586
trillion
GPP (Purchasing
power parity) : 954.296
billion of International dollars
GDP per capita -
current prices : US$ 68,916
GDP - composition
by sector : agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment rate
: 2010: 5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General
Government gross debt as
a % GDP): 2010:
20.4%
2011: 22.9%
2012: 24%
Government bond
ratings : Standard
& Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of
publicly traded
shares: US$1.198
trillion
Largest companies
in the country : Qantas Airways
(Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal Services),Crown Ltd (Casinos &
Gaming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified
Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining
(Diversified Metals & Mining), Orica (Diversified Metals & Mining),
Iluka
Resources(Diversified Metals & Mining), Origin Energy (Electric
Utilities),
AGL Energy (Electric Utilities), Wesfarmers (Food Retail), Woolworths
(Food Retail), Metcash (Food Retail), Macquarie Group (Investment services),
AMP (Investment services), Challenger Ltd (Investment services), Fortescue
Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel),
Commonwealth Bank (Major Banks), Westpac Banking Group
(Major Banks), National Australia Bank (Major Banks), ANZ (Major Banks),
Woodside Petroleum (Oil & Gas Operations), Santos (Oil & Gas
Operations), Caltex Australia (Oil & Gas Operations), WorleyParsons
(Oil
Services & Equipment), Toll Holdings (Other Transportation),
Transurban
Group (Other Transportation), QBE Insurance Group (Property &
Casualty Insurance), Insurance Australia Group (Property & Casualty
Insurance), QR National (Railroads), Westfield Group (Real Estate), Stockland
Australia (Real Estate), Westfield Retail Trust (Real Estate), Lend Lease (Real
Estate), CFS Retail Property Trust (Real Estate), Goodman Group (Real Estate),
Bendigo & Adelaide Bank (Regional Banks), Bank of Queensland (Regional
Banks), Incitec Pivot (Specialized Chemicals), Telstra (Telecommunications
Services)
Trade & Competitiveness Overview
Total exports : US$263.9 billion
Exports
commodities : Coal, iron ore, gold,
meat, wool, alumina, wheat, machinery and transport
equipment
Total imports : US$239.7 billion
Imports
commodities : Machinery and transport
equipment, computers and office machines,
telecommunication equipment and parts; crude oil and petroleum products
Export - major partners
: China 27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%
Import - major
partners : China 18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009: US$26,554 million
2010: US$35,556 million
2011: US$41,317 million
FDI Outflows : 2009: US$16,693 million
2010: US$12,791 million
2011: US$19,999 million
Best countries for
doing business : 10 out of 185 countries
Global
competitiveness ranking : 20 (ranking by country on a basis of 144, the first
is the best)
Country and Population Overview
Total population :
22.68 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian dollars (AUD)
Internet users as
% of total
population: 79%
Purchase Term
International : Telegraphic transfer, Credit 30-60 days
Sales Term
Local : Bank transfer, Credit 30-60 days
International : Telegraphic transfer, Credit 30-60 days
Trade Reference/ Payment
Behaviour
Comments : As local and international trade references
were not supplied, the Subject's
payment track record history cannot be appropriately determined but
based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material provided
by the Subject
: Official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.80 |
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1 |
Rs.94.21 |
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Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.